Bullish Pennant formed after a 5-month correction. Multiple new support confirmation over the past few days and price that resisted the news of Bezos leaving the company.
I am fairly optimistic on this trade, as I particularly like the chart and the risk/reward ratio. This means that I will allocate more capital than usual.
About me - P/L Oct-Dec-Jan Trading Suspended | September +49.18% | August +232.32% | No Trades without Analysis - Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss
There is a bunch of open interest on the 2/19 $3400 and $3500 calls. Do you think it could have a push to around those marks within the next two weeks?
maschera
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@mbver there is quite of enthusiasm by analysts about AMZN stock price, that led to increased price targets. Also the fact that Bezos resignation didn’t affect the price at all, is another good sign. Hard to predict when we are going to reach those price marks, however I feel optimistic about $3400 in a couple of weeks.